520 10th Street, a 3-storey, 50 unit walkup apartment building in New Westminster has sold for $5,500,000, representing $110,000 per unit and a capitalization rate of 5.6%. The building is woodframe and was built in 1967.

Western Coast Investments Ltd. has acquired the Comfort Inn Vancouver Airport Hotel at No. 3 Road and Sea Island Way in Richmond, B.C.

The hotel contains 129 rooms. The purchase price was $8,533,000, representing $66,147 per room. The site is 1.6 acres.

The zoning in the area is for hotel commercial. The official community plan is Urban Centre T5, which allows a variety of uses.

Hollyburn Properties have acquired Crestview Terrace, a 10-storey concrete apartment building located at 1414 Davie Street in the West End of Vancouver. The building has 36 units and was built in 1965. The price was $7,641,560, equating to $212,000 per unit, and a capitalization rate of 3.8%. The zoning for the property is RM-5A.

Holborn Group has acquired 620-622 Seymour Street in Downtown Vancouver for $5,500,000, or $478 per sq ft. The 2-storey, 11,500 sq ft building has been vacant. The site is 6,000 sq ft which equates to $183 per buildable square foot on land value.

Holborn owns the adjacent Bay Parkade and this acquisition represents additional assembly of land with future redevelopment potential.

Anthem Properties has acquired 190 Alexander Street, ‘The Harbourview’, a 6-storey, 40,000 sq ft office building located at Alexander Street and Hastings Street on the edge of Gastown in Vancouver, B.C.

The purchase price was $10,375,000 representing $262 per sq ft. The building is reinforced concrete and was built in 1979. It features excellent views of the North Shore.